LONDON (Reuters) – Lloyds Banking Group Chief Executive Charlie Nunn has begun a shake-up of the lender’s top team and internal structure, as he looks to drive through a new strategy unveiled last month.
The bank will split its three units into five to sharpen up its decision making, according to an internal memo seen by Reuters on Tuesday.
Two of the lender’s top executives are also planning to leave the bank amid various management changes, the memo showed. Group director for retail, Vim Maru, will leave following a handover of responsibilities, while commercial banking boss David Oldfield also plans to leave next year.
(Reporting By Iain Withers, editing by Sinead Cruise)
